Standard & Poor’s lifts HC’s financial outlook to ‘positive’
Standard & Poor’s Ratings Services has upgraded from "stable" to "positive" its outlook for the College of the Holy Cross, citing surpluses and strong financial resources.
"The positive outlook reflects Standard & Poor's view of Holy Cross' solid operating performance and increasing financial resources," the ratings service said in a statement Thursday. It added that the rating could go higher if the college maintains demand metrics, operating surpluses, and financial resource ratios at current levels or better during the next one to two years.
Standard & Poor’s also affirmed its AA- long-term rating and underlying rating (SPUR) on Massachusetts Development Finance Agency bonds issued for Holy Cross. In addition, it affirmed its AAA/A-1 dual rating on the agency's series 2008A bonds for the college.
In revising the outlook upward, Standard & Poor’s cited the Worcester school’s "maintenance of solid full accrual surpluses coupled with increasingly strong financial resource ratios that together more strongly offset what we consider an above-average debt service burden."
WBJ Web Partners
Most Recent
Most Recent
0 Comments